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The establishment of the “extraordinary urbanization contribution” with Law no. 165 of 2014 requires regulating the division between public and private of the capital gains achievable from interventions on urban areas or buildings as variant or in derogation of the regulatory instruments in force. The “free interpretation” of the aforementioned directive left to regional and local decision makers – regarding a) the procedures for assessing the higher value generated by the urban planning variant compared to the pre variant situation and b) the exact percentage of the extraordinary contribution to be used – has led to a methodologically uneven and confused national panorama. This work aims to define and test a rational procedure for assessing the higher value activated by the intervention, comparing the situation before and after the urban variation, and to determine the amount of the gross floor area achievable with the transformation that the private subject is required to pay to the Public Administration, due to the percentage variation of the extraordinary contribution. L’istituzione del “contributo straordinario di urbanizzazione” con la Legge n.165 del 2014 richiede di regolamentare la ripartizione tra pubblico e privato del plusvalore conseguibile da interventi su aree o immobili in variante urbanistica o in deroga agli strumenti vigenti. La “libera interpretazione” della suddetta norma lasciata ai decisori regionali e locali - in merito a) ai procedimenti di stima del maggior valore generato dalla variante urbanistica rispetto alla situazione ante variante e b) all’esatta percentuale del contributo straordinario da impiegare - si è tradotta in un panorama nazionale metodologicamente frastagliato e confuso. Il presente lavoro ha l’obiettivo di delineare e testare una procedura razionale di stima del maggior valore attivato dall’intervento, mettendo a confronto la situazione ante e post variante urbanistica, e di determinare l’ammontare della superficie lorda di pavimentazione realizzabile con la variante che la parte privata è tenuta a corrispondere alla Pubblica Amministrazione, in ragione della variazione percentuale del contributo straordinario.
Pierluigi Morano; Francesco Tajani; Debora Anelli. Urban planning variants: a model for the division of the activated “plusvalue” between public and private subjects [Interventi in variante urbanistica: un modello per la ripartizione tra pubblico e privato del “plusvalore” conseguibile]. Valori e Valutazioni 2021, 28, 31 -48.
AMA StylePierluigi Morano, Francesco Tajani, Debora Anelli. Urban planning variants: a model for the division of the activated “plusvalue” between public and private subjects [Interventi in variante urbanistica: un modello per la ripartizione tra pubblico e privato del “plusvalore” conseguibile]. Valori e Valutazioni. 2021; 28 ():31-48.
Chicago/Turabian StylePierluigi Morano; Francesco Tajani; Debora Anelli. 2021. "Urban planning variants: a model for the division of the activated “plusvalue” between public and private subjects [Interventi in variante urbanistica: un modello per la ripartizione tra pubblico e privato del “plusvalore” conseguibile]." Valori e Valutazioni 28, no. : 31-48.
The economic crisis of 2008 has highlighted the ineffectiveness of the banks in their disbursement of mortgages which caused the spread of Non-Performing Loans (NPLs) with underlying real estate. With the methods stated by the Basel III agreements, aimed at improving the capital requirements of banks and determining an adequate regulatory capital, the banks without the skills required have difficulties in applying the rigid weighting coefficients structures. The aim of the work is to identify a synthetic risk index through the participatory process, in order to support the restructuring debt operations to benefit smaller banks and small and medium-sized enterprises (SME), by analyzing the real estate credit risk. The proposed synthetic risk index aims at overcoming the complexity of Basel III methodologies through the implementation of three different multi-criteria techniques. In particular, the integration of objective financial variables with subjective expert judgments into a participatory process is not that common in the reference literature and brings its benefits for reaching more approved and shared results in the debt restructuring operations procedure. Moreover, the main findings derived by the application to a real case study have demonstrated how important it is for the credit manager to have an adequate synthetic index that could lead to the avoidance of risky scenarios where several modalities to repair the credit debt occur.
Marco Locurcio; Francesco Tajani; Pierluigi Morano; Debora Anelli; Benedetto Manganelli. Credit Risk Management of Property Investments through Multi-Criteria Indicators. Risks 2021, 9, 106 .
AMA StyleMarco Locurcio, Francesco Tajani, Pierluigi Morano, Debora Anelli, Benedetto Manganelli. Credit Risk Management of Property Investments through Multi-Criteria Indicators. Risks. 2021; 9 (6):106.
Chicago/Turabian StyleMarco Locurcio; Francesco Tajani; Pierluigi Morano; Debora Anelli; Benedetto Manganelli. 2021. "Credit Risk Management of Property Investments through Multi-Criteria Indicators." Risks 9, no. 6: 106.
Among environmental factors, noise represents one of the most relevant determinants on human health and on the urban quality level and, consequently, on real estate values. Thus, the noise pollution issue plays a significant role in public urban policies aimed at increasing the acoustic comfort level and creating more sustainable and comfortable cities. The real estate market is highly sensitive to noise factor and the residential prices can be strongly influenced by a high acoustic pollution rate. The present research aims to analyze the functional relationships between noise pollution and selling prices in four municipal areas of the city of Bari (Southern Italy). For each area, a study sample constituted by two hundred residential properties sold in 2017–2019 was detected for the identification of the main influential factors on prices and the investigation of the contribution of noise on them. The implementation of an econometric technique was used to obtain four different models (one for each municipal area of the city of Bari) able to explain the specific impact of noise pollution level on selling prices. From the comparison of the results obtained for each area, the outputs confirm the expected phenomena in terms of a decrease of noise component influence on residential prices from the central area to the peripheral. For the suburban area of the city of Bari, the model obtained does not include the noise pollution factor, showing a lower (scarce) importance of the environmental factor among the buyer and seller bargaining phases.
Pierluigi Morano; Francesco Tajani; Felicia Di Liddo; Michele Darò. Economic Evaluation of the Indoor Environmental Quality of Buildings: The Noise Pollution Effects on Housing Prices in the City of Bari (Italy). Buildings 2021, 11, 213 .
AMA StylePierluigi Morano, Francesco Tajani, Felicia Di Liddo, Michele Darò. Economic Evaluation of the Indoor Environmental Quality of Buildings: The Noise Pollution Effects on Housing Prices in the City of Bari (Italy). Buildings. 2021; 11 (5):213.
Chicago/Turabian StylePierluigi Morano; Francesco Tajani; Felicia Di Liddo; Michele Darò. 2021. "Economic Evaluation of the Indoor Environmental Quality of Buildings: The Noise Pollution Effects on Housing Prices in the City of Bari (Italy)." Buildings 11, no. 5: 213.
From the 21st century to the present(2021), a worldwide awareness that cities’ development must be based on projects for socio-economic growth and environmental protection is increasing. World governmental agencies and the European Union have suggested action strategies for the construction of «prototype cities» whose value must be founded on the inclusion and/or preservation of anthropic-natural elements and their effects on territories. In order to minimize the theoretical–practical gap between planning and project design with a view to sustainable development and the evaluation of their performance from economic, social and environmental points of view, the present contribution aims to outline a framework useful for systematizing the main scientific contributions concerning sustainability and the evaluation of urban transformation projects. The objective is pursued by analyzing bibliographic references with specific regard to the use of logical-operative methodologies used to rationalize the processes of interventions’ evaluation and selection. The task of examining the available literature is carried out with an investigation protocol of four sequential steps. From the implementation of the last one, the evidence expressing the heterogeneity of the examples in the literature is described. Accordingly, the theoretical-methodological framework for the project evaluation from an urban sustainability perspective is illustrated.
Pierluigi Morano; Francesco Tajani; Maria Guarini; Francesco Sica. A Systematic Review of the Existing Literature for the Evaluation of Sustainable Urban Projects. Sustainability 2021, 13, 4782 .
AMA StylePierluigi Morano, Francesco Tajani, Maria Guarini, Francesco Sica. A Systematic Review of the Existing Literature for the Evaluation of Sustainable Urban Projects. Sustainability. 2021; 13 (9):4782.
Chicago/Turabian StylePierluigi Morano; Francesco Tajani; Maria Guarini; Francesco Sica. 2021. "A Systematic Review of the Existing Literature for the Evaluation of Sustainable Urban Projects." Sustainability 13, no. 9: 4782.
The present research is focalized on public-private partnership (PPP) procedures as a driving force of urban sustainable development. The paper intends to point out the relevant role played by the public administrations in the implementation of these mechanisms aimed at degraded urban area renovation, public property assets enhancement, or ex novo realization. In this sense, in the existing reference literature, the private investor tasks and risks have been often explored, neglecting the significant public entities position. The efficiency in the use of the PPP is verified through the discounted cash-flow analysis (DCFA) implementation: the assessment of the costs and the revenues derived from the project allows the private investor to verify the financial feasibility of the initiative. In the context outlined, the public administration could contribute to the success of the intervention through a periodic fee paid to the private investor in order to ensure the financial convenience of the project. In the present research, a functional reconversion operation related to a building located in the small town of Cesano Romano (Italy) and carried out through the PPP operational tool, has been illustrated. In the analysis, a public monetary amount has been considered and determined, able (i) to guarantee the financial sustainability for the private investor and (ii) to comply with the regulatory constraints in the Italian context. Finally, a scenario analysis has been developed to identify the situation/s in which public participation is necessary for the convenience of the initiative and to quantify this monetary amount.
Pierluigi Morano; Francesco Tajani; Felicia Di Liddo; Paola Amoruso. The Public Role for the Effectiveness of the Territorial Enhancement Initiatives: A Case Study on the Redevelopment of a Building in Disuse in an Italian Small Town. Buildings 2021, 11, 87 .
AMA StylePierluigi Morano, Francesco Tajani, Felicia Di Liddo, Paola Amoruso. The Public Role for the Effectiveness of the Territorial Enhancement Initiatives: A Case Study on the Redevelopment of a Building in Disuse in an Italian Small Town. Buildings. 2021; 11 (3):87.
Chicago/Turabian StylePierluigi Morano; Francesco Tajani; Felicia Di Liddo; Paola Amoruso. 2021. "The Public Role for the Effectiveness of the Territorial Enhancement Initiatives: A Case Study on the Redevelopment of a Building in Disuse in an Italian Small Town." Buildings 11, no. 3: 87.
The design of a natural park is generated by the need to protect and organize, for conservation and/or for balanced growth, parts of the territory that are of particular interest for the quality of the natural and historical–cultural heritage. The necessary tool to support the decision-making process in the design of a natural park are the financial and economic evaluations, which intervene in three successive steps: in the definition of protection and enhancement levels of the park areas; in the choice of the interventions to be implemented for the realization of these levels of protection and enhancement; in determining and verifying the economic and financial results obtainable from the project execution. This contribution deals with aspects and issues relating to the economic and financial evaluation of natural park projects. In particular, an application of the “Complex Social Value” to a concrete case of environmental design is developed on the basis of the elements that can be deduced from a feasibility study of a natural park: the levels of protection and enhancement of the homogeneous areas of the natural park are preliminarily defined, and the choice of the design alternative to be implemented is, therefore, rationalized with multicriteria analysis.
Vincenzo Del Giudice; Pierfrancesco De Paola; Pierluigi Morano; Francesco Tajani; Francesco Del Giudice. A Multidimensional Evaluation Approach for the Natural Parks Design. Applied Sciences 2021, 11, 1767 .
AMA StyleVincenzo Del Giudice, Pierfrancesco De Paola, Pierluigi Morano, Francesco Tajani, Francesco Del Giudice. A Multidimensional Evaluation Approach for the Natural Parks Design. Applied Sciences. 2021; 11 (4):1767.
Chicago/Turabian StyleVincenzo Del Giudice; Pierfrancesco De Paola; Pierluigi Morano; Francesco Tajani; Francesco Del Giudice. 2021. "A Multidimensional Evaluation Approach for the Natural Parks Design." Applied Sciences 11, no. 4: 1767.
Maria Rosaria Guarini; Antonio Nesticò; Pierluigi Morano; Francesco Sica. Urban rent control: a decision support tool for the optimal resources allocation between urban forest projects. Valori e Valutazioni 2020, 27, 77 -90.
AMA StyleMaria Rosaria Guarini, Antonio Nesticò, Pierluigi Morano, Francesco Sica. Urban rent control: a decision support tool for the optimal resources allocation between urban forest projects. Valori e Valutazioni. 2020; 27 ():77-90.
Chicago/Turabian StyleMaria Rosaria Guarini; Antonio Nesticò; Pierluigi Morano; Francesco Sica. 2020. "Urban rent control: a decision support tool for the optimal resources allocation between urban forest projects." Valori e Valutazioni 27, no. : 77-90.
The sustainable development of cities, by focusing on abandoned or degraded areas, represent the key driver that is able to remedy to damages that are produced by uncontrolled urban growth. The aim of the work is to highlight usefulness of the Cost-Revenue Analysis (CRA) in decision-making process concerning the enhancement of a military complex located in the city of Rome (Italy). In particular, existence of conditions that allow the Public Administration (PA) to request private entrepreneur additional operations to those established by the law is intended to examine, ensuring financial convenience of both subjects involved. The results achieved demonstrate feasibility of initiative, but also existence of wide margins for financial convenience of private entrepreneur that allow the PA to request additional financial resources or the direct realization of the initiatives to be intended to public functions. Furthermore, the influence of combination of the intended uses on urban planning loads and financial budget of the initiative is tested by analyzing the variation of share of gross floor area that can be attributed to each intended use. The adoption of the CRA can be implemented by subjects involved in the early stage of redevelopment initiatives in order to provide the size of the amount of financial resources that are necessary.
Pierluigi Morano; Maria Rosaria Guarini; Francesco Tajani; Debora Anelli. Sustainable Redevelopment: The Cost-Revenue Analysis to Support the Urban Planning Decisions. Transactions on Petri Nets and Other Models of Concurrency XV 2020, 12251, 968 -980.
AMA StylePierluigi Morano, Maria Rosaria Guarini, Francesco Tajani, Debora Anelli. Sustainable Redevelopment: The Cost-Revenue Analysis to Support the Urban Planning Decisions. Transactions on Petri Nets and Other Models of Concurrency XV. 2020; 12251 ():968-980.
Chicago/Turabian StylePierluigi Morano; Maria Rosaria Guarini; Francesco Tajani; Debora Anelli. 2020. "Sustainable Redevelopment: The Cost-Revenue Analysis to Support the Urban Planning Decisions." Transactions on Petri Nets and Other Models of Concurrency XV 12251, no. : 968-980.
The Public-Private Partnership is also used, at international level, to carry out interventions in urban variant on areas or buildings that, by enhancing the value of (private) real estate properties, guarantee an economic return for the local community through an extraordinary contribution of urbanization (ECU) paid to the Administration by the private entity. The Italian Regions and Municipalities that have regulated the ECU calculation adopt a procedure of transformation value that does not specify either the duration or the risk-related rate of return of the real estate operation, which are essential factors for its balanced quantification. The paper defines a procedure that integrates methodologies, diffused in practice and literature, with official datasets to determine objectively the ECU, also evaluating its sensitivity to the critical variables of the transformative process. The proposed procedure is easy to apply and adaptable to a wide range of interventions and to different phases of the public-private (re)negotiation. It is in line with the Italian case and it is consistent with the international evaluation standards (IVS), having a general validity in the estimation field.
Maria Rosaria Guarini; Pierluigi Morano; Alessandro Micheli. A Procedure to Evaluate the Extra-Charge of Urbanization. Transactions on Petri Nets and Other Models of Concurrency XV 2020, 12251, 981 -999.
AMA StyleMaria Rosaria Guarini, Pierluigi Morano, Alessandro Micheli. A Procedure to Evaluate the Extra-Charge of Urbanization. Transactions on Petri Nets and Other Models of Concurrency XV. 2020; 12251 ():981-999.
Chicago/Turabian StyleMaria Rosaria Guarini; Pierluigi Morano; Alessandro Micheli. 2020. "A Procedure to Evaluate the Extra-Charge of Urbanization." Transactions on Petri Nets and Other Models of Concurrency XV 12251, no. : 981-999.
Despite the widespread opinion that the traditional finance is exclusively interested in the monetary return, in the last ten years this sector has been affected by a contamination of the public principles related to the social impacts. The global development and the spread of “win-win” financial instruments such as the Social Impact Bonds (SIBs) outlines a growing interest in making an investment that aims at generating benefits for all the subjects involved, always guaranteeing a monetary return to the private investor. The complexity of identifying the social impact sectors to be preferred, in a context characterized by different social needs, represents a critical issue in the SIBs investment. This research defines a model that can constitute a decision support tool for the public and private subjects in the preliminary phases concerning the resource allocation for a social program. The proposed algorithm allows to define a temporal priority of the social impact sectors that are simultaneously able to maximize the conveniences for all the subjects involved. Through the model, the public and private subjects will be able to determine the best allocation of financial resources according to the real social needs, contributing to an effective spread of SIBs both in Italy and abroad.
Francesco Tajani; Pierluigi Morano; Debora Anelli; Carmelo Maria Torre. A Model to Support the Investment Decisions Through Social Impact Bonds as Effective Financial Instruments for the Enhancement of Social Welfare Policies. Transactions on Petri Nets and Other Models of Concurrency XV 2020, 12251, 941 -951.
AMA StyleFrancesco Tajani, Pierluigi Morano, Debora Anelli, Carmelo Maria Torre. A Model to Support the Investment Decisions Through Social Impact Bonds as Effective Financial Instruments for the Enhancement of Social Welfare Policies. Transactions on Petri Nets and Other Models of Concurrency XV. 2020; 12251 ():941-951.
Chicago/Turabian StyleFrancesco Tajani; Pierluigi Morano; Debora Anelli; Carmelo Maria Torre. 2020. "A Model to Support the Investment Decisions Through Social Impact Bonds as Effective Financial Instruments for the Enhancement of Social Welfare Policies." Transactions on Petri Nets and Other Models of Concurrency XV 12251, no. : 941-951.
The present research concerns the procedures of concessions for the improvement and exploitation of public property assets. We propose a model that helps to define the optimal combination of novel uses in public properties. This model is an answer to the need for effective strategies to find new functions for disused buildings or abandoned areas. The model integrates the logic of the Discounted Cash-Flow Analysis (DCFA) and the goal programming for determining the new functions, to identify the macro-solution that maximizes the financial conveniences of the parties involved (Public Administration and private investor), in terms of monetary compensation for the Public Administration and return on investment for the private operator. The algorithm of the model has been applied to five existing public properties located in the city of Rome (Italy); for each property a specific procedure of concessions for the improvement of public assets can be activated and different eligible enhancement projects can be realized. The outputs generated by the optimization model are a valid decision support in all the phases of the concession procedure to identify the (public and private) strengths and weaknesses concerning the redevelopment initiatives on public properties. The effective re-use of these properties can actually help to prevent further soil consumption.
Francesco Tajani; Pierluigi Morano; Felicia Di Liddo. The optimal combinations of the eligible functions in multiple property assets enhancement. Land Use Policy 2020, 99, 105050 -105050.
AMA StyleFrancesco Tajani, Pierluigi Morano, Felicia Di Liddo. The optimal combinations of the eligible functions in multiple property assets enhancement. Land Use Policy. 2020; 99 ():105050-105050.
Chicago/Turabian StyleFrancesco Tajani; Pierluigi Morano; Felicia Di Liddo. 2020. "The optimal combinations of the eligible functions in multiple property assets enhancement." Land Use Policy 99, no. : 105050-105050.
With reference to the urban redevelopment interventions carried out through the Public Private Partnership procedure, the present research aims at testing a model able to quickly evaluate the convenience of the parties involved (private investors and Public Administrations). The model has been applied to three urban transformation initiatives to be developed in the city of Bari (Southern Italy), in order to verify the financial feasibility of each investment. The experimentation on the three projects considered could allow i) the Public Administration to define a priority list of the three urban initiatives to be launched in the city of Bari, ii) the private investors to weigh the risk of the different alternatives, in order to identify the most appropriate investment.
Pierluigi Morano; Francesco Tajani; Maria Rosaria Guarini; Felicia Di Liddo. An Evaluation Model for the Definition of Priority Lists in PPP Redevelopment Initiatives. Blockchain Technology and Innovations in Business Processes 2020, 451 -461.
AMA StylePierluigi Morano, Francesco Tajani, Maria Rosaria Guarini, Felicia Di Liddo. An Evaluation Model for the Definition of Priority Lists in PPP Redevelopment Initiatives. Blockchain Technology and Innovations in Business Processes. 2020; ():451-461.
Chicago/Turabian StylePierluigi Morano; Francesco Tajani; Maria Rosaria Guarini; Felicia Di Liddo. 2020. "An Evaluation Model for the Definition of Priority Lists in PPP Redevelopment Initiatives." Blockchain Technology and Innovations in Business Processes , no. : 451-461.
In the marginal areas of the Alps, there is a huge built heritage expressed by local communities, resulting in an architectural model that is sustainable in terms of its material use, resource exploitation, and landscape coherence. Although buildings in these small settlements have been largely protected from transformation, currently this heritage is largely underused. Thus, it is desirable to consider reuse and enhancement actions that can combine both economic viability and the protection of historic, cultural and architectural values. This paper presents a multi-attribute model for the evaluation of sustainability in reuse projects concerning traditional buildings in the Italian Alpine settlements. For the appraisal of sustainability, the model uses relevant parameters aggregated into three macro-indicators. The model was calibrated by an expert panel and tested on reuse projects in Sauris, in north-eastern Italy, where residential building type is characterized by specific techniques that are expressions of community traditions. The main results show that the attributes aggregation function is predominantly andness in all nodes. A short range in sustainability assessment is a predictable result, as the buildings used for the model’s application give a common judgment in some attributes. Finally, activities for widespread hospitality generate a greater expected return compared to commercial services.
Carlo Antonio Stival; Raul Berto; Pierluigi Morano; Paolo Rosato. Reuse of Vernacular Architecture in Minor Alpine Settlements: A Multi-Attribute Model for Sustainability Appraisal. Sustainability 2020, 12, 6562 .
AMA StyleCarlo Antonio Stival, Raul Berto, Pierluigi Morano, Paolo Rosato. Reuse of Vernacular Architecture in Minor Alpine Settlements: A Multi-Attribute Model for Sustainability Appraisal. Sustainability. 2020; 12 (16):6562.
Chicago/Turabian StyleCarlo Antonio Stival; Raul Berto; Pierluigi Morano; Paolo Rosato. 2020. "Reuse of Vernacular Architecture in Minor Alpine Settlements: A Multi-Attribute Model for Sustainability Appraisal." Sustainability 12, no. 16: 6562.
The financial transmission of the USA's housing price bubble has highlighted the inadequacy of the valuation methods adopted by the credit institutions, due to their static nature and inability to understand complex socio-economic dynamics and their related effects on the real estate market. The present research deals with the current issue of using Automated Valuation Methods for expeditious assessments in order to monitor and forecast market evolutions in the short and medium term. The paper aims to propose an evaluative model for the corporate market segment, in order to support the investors’, the credit institutions’ and the public entities’ decision processes. The application of the proposed model to the corporate real estate segment market of the cities of Rome and Milan (Italy) outlines the potentialities of this approach in property big data management. The elaboration of input and output data in the GIS (Geographic Information System) environment allowed the development of an intuitive platform for the immediate representation of the results and their easy interpretation, even to non-expert users.
Marco Locurcio; Pierluigi Morano; Francesco Tajani; Felicia Di Liddo. An Innovative GIS-Based Territorial Information Tool for the Evaluation of Corporate Properties: An Application to the Italian Context. Sustainability 2020, 12, 5836 .
AMA StyleMarco Locurcio, Pierluigi Morano, Francesco Tajani, Felicia Di Liddo. An Innovative GIS-Based Territorial Information Tool for the Evaluation of Corporate Properties: An Application to the Italian Context. Sustainability. 2020; 12 (14):5836.
Chicago/Turabian StyleMarco Locurcio; Pierluigi Morano; Francesco Tajani; Felicia Di Liddo. 2020. "An Innovative GIS-Based Territorial Information Tool for the Evaluation of Corporate Properties: An Application to the Italian Context." Sustainability 12, no. 14: 5836.
This study investigates the effect that property taxation has on investment in the real estate market. There is a close relationship between investments in the real estate market and taxes, local communities, public policies and economic development. The analysis was developed with reference to the Italian real estate market and its tax regime. In Italy, taxation on real estate affects possession, transfers and income. These three tax rates vary according to the subjects who exchange assets and manage them, to the intended use of the real estate property and to the options for choosing the type of tax regime permitted by law. On the basis of these parameters, a financial analysis of real estate investment is constructed and simulated in order to understand to which types of taxation investment is most sensitive. The results showed that a change in income taxation can have an important effect on the investment choice. This evidence may also suggest fiscal policy actions aimed at stimulating the real estate market.
Benedetto Manganelli; Pierluigi Morano; Paolo Rosato; Pierfrancesco De Paola. The Effect of Taxation on Investment Demand in the Real Estate Market: The Italian Experience. Buildings 2020, 10, 115 .
AMA StyleBenedetto Manganelli, Pierluigi Morano, Paolo Rosato, Pierfrancesco De Paola. The Effect of Taxation on Investment Demand in the Real Estate Market: The Italian Experience. Buildings. 2020; 10 (7):115.
Chicago/Turabian StyleBenedetto Manganelli; Pierluigi Morano; Paolo Rosato; Pierfrancesco De Paola. 2020. "The Effect of Taxation on Investment Demand in the Real Estate Market: The Italian Experience." Buildings 10, no. 7: 115.
In the present research the financial convenience of refurbishment investments concerning residential properties located in the Italian territory was analyzed. The study aimed at determining the unit profit range for a potential investor deriving from the refurbishment of residential properties and contextualizing the analysis to the Italian provincial capitals. With reference to the three macro-areas that for geographic and socio-economic differences define the Italian territory, namely the North, Center, South and Islands, three financial convenience maps were elaborated with the aim of providing a useful support in the investment choices of private and public operators. In particular, the financial convenience maps could guide the private operators in their investment decisions through a higher awareness of the achievable earnings and could help to identify the optimal allocation of financial resources due to the increase in the market value of the refurbished property. For the public administrations, instead, the study will be a useful reference for the calibration of the fiscal policy decisions regarding the incentives for building refurbishment at the different territorial scales and of the tax revenues related to the increase in the market value of the refurbished properties.
Pierluigi Morano; Francesco Tajani; Felicia Di Liddo; Debora Anelli. A Feasibility Analysis of The Refurbishment Investments in The Italian Residential Market. Sustainability 2020, 12, 2503 .
AMA StylePierluigi Morano, Francesco Tajani, Felicia Di Liddo, Debora Anelli. A Feasibility Analysis of The Refurbishment Investments in The Italian Residential Market. Sustainability. 2020; 12 (6):2503.
Chicago/Turabian StylePierluigi Morano; Francesco Tajani; Felicia Di Liddo; Debora Anelli. 2020. "A Feasibility Analysis of The Refurbishment Investments in The Italian Residential Market." Sustainability 12, no. 6: 2503.
It is recognized, in Europe and elsewhere, that there is a need to implement sustainable urban intervention policies based also on the recovery of existing public real estate assets. In Italy, the schools are a significant part of public property. At this time (2019), many buildings destined for teaching need to be redeveloped, both from a structural and plant engineering point of view, and with regard to the management of the spaces available for teaching and social activities. Although, there have been many attempts by the legislator to regulate the modus operandi in the school construction field, it is clear that there is a lack of a unique regulatory system in which the technical and functional-managerial aspects relating to the same school are considered together. On this basis, with this study a multi-criteria evaluation protocol to support intervention planning for the redevelopment of existing school buildings is proposed. The study defines an evaluation framework with which we can establish the design priorities to be carried out in accordance with the building features and community needs. The evaluation framework is tested on a renewal project regarding a school building located in the historic center of Rome (Italy).
Maria Rosaria Guarini; Pierluigi Morano; Francesco Sica. Historical School Buildings. A Multi-Criteria Approach for Urban Sustainable Projects. Sustainability 2020, 12, 1076 .
AMA StyleMaria Rosaria Guarini, Pierluigi Morano, Francesco Sica. Historical School Buildings. A Multi-Criteria Approach for Urban Sustainable Projects. Sustainability. 2020; 12 (3):1076.
Chicago/Turabian StyleMaria Rosaria Guarini; Pierluigi Morano; Francesco Sica. 2020. "Historical School Buildings. A Multi-Criteria Approach for Urban Sustainable Projects." Sustainability 12, no. 3: 1076.
The present research takes into account the current and widespread need for rational valuation methodologies, able to correctly interpret the available market data. An innovative automated valuation model has been simultaneously implemented to three Italian study samples, each one constituted by two-hundred residential units sold in the years 2016–2017. The ability to generate a “unique” functional form for the three different territorial contexts considered, in which the relationships between the influencing factors and the selling prices are specified by different multiplicative coefficients that appropriately represent the market phenomena of each case study analyzed, is the main contribution of the proposed methodology. The method can provide support for private operators in the assessment of the territorial investment conveniences and for the public entities in the decisional phases regarding future tax and urban planning policies.
Pierluigi Morano; Paolo Rosato; Francesco Tajani; Benedetto Manganelli; Felicia Di Liddo. Contextualized Property Market Models vs. Generalized Mass Appraisals: An Innovative Approach. Sustainability 2019, 11, 4896 .
AMA StylePierluigi Morano, Paolo Rosato, Francesco Tajani, Benedetto Manganelli, Felicia Di Liddo. Contextualized Property Market Models vs. Generalized Mass Appraisals: An Innovative Approach. Sustainability. 2019; 11 (18):4896.
Chicago/Turabian StylePierluigi Morano; Paolo Rosato; Francesco Tajani; Benedetto Manganelli; Felicia Di Liddo. 2019. "Contextualized Property Market Models vs. Generalized Mass Appraisals: An Innovative Approach." Sustainability 11, no. 18: 4896.
The technological components regarding building cladding are designed for ensuring thermo-hygrometric comfort conditions within habitable spaces and realising smart buildings. Often the solutions adopted are identified referring only to the characteristics of mechanical and energy materials without considering the ecological–environmental properties in an urban context. Thus, it is appropriate to choose technological components not only according to material type, but also ecological aspects pursued through presence and/or structured integration of natural elements. The technical-design forms based on “building–nature” integration allows, on one hand, the sustainable soil use with multiple benefits (ecosystem services) that natural systems produce, on the other hand, the identification of technological solutions sized referring environmental quality levels achieved through appropriate natural species use. In this way, it can be obtained lower buildings investment and maintenance costs, and greater energetic–environmental benefits. So, it is proposed an evaluation protocol for settlement transformation interventions structured considering environmental effects obtained with Nature-Based Solutions (NBSs) into the project. According to ecological–environmental quality level achieved with NBSs, the technological component is sized according to preliminary design parameters (noise reduction and solar irradiation degree) obtained through NBSs. The total performance level of technological solutions is expressed using Economic–Environmental Indicators. The protocol is tested on social housing case in Anagnina district of Rome (Italy).
Maria Rosaria Guarini; Pierluigi Morano; Francesco Sica. Integrated Ecosystem Design: An Evaluation Model to Support the Choice of Eco-Compatible Technological Solutions for Residential Building. Energies 2019, 12, 2659 .
AMA StyleMaria Rosaria Guarini, Pierluigi Morano, Francesco Sica. Integrated Ecosystem Design: An Evaluation Model to Support the Choice of Eco-Compatible Technological Solutions for Residential Building. Energies. 2019; 12 (14):2659.
Chicago/Turabian StyleMaria Rosaria Guarini; Pierluigi Morano; Francesco Sica. 2019. "Integrated Ecosystem Design: An Evaluation Model to Support the Choice of Eco-Compatible Technological Solutions for Residential Building." Energies 12, no. 14: 2659.
Although the presence of an urban green areas seems to be an important factor in housing decisions, there are few empirical research on the incidence of different types of urban green spaces on housing prices. With reference to a study sample of apartments located in the Flaminio district of the city of Rome (Italy), an innovative data-driven technique has been implemented. In this way, it was possible to identify, among the main explanatory variables selected by the model as the most influential in real estate price formation phenomena, those relating to green areas and analyzing the marginal contribution of each of them on selling prices. The implemented methodology has allowed to obtain a model characterized by high statistical reliability, by a simplicity and high coherence in the empirical interpretation of the functional relationships between the influencing factors selected and the housing prices. The results clearly indicate that green space is not a homogeneous environmental amenity, rather it is a series of distinct elements that has a different impact on housing prices.
Pierluigi Morano; Maria Rosaria Guarini; Francesco Tajani; Felicia Di Liddo; Debora Anelli. Incidence of Different Types of Urban Green Spaces on Property Prices. A Case Study in the Flaminio District of Rome (Italy). Transactions on Petri Nets and Other Models of Concurrency XV 2019, 23 -34.
AMA StylePierluigi Morano, Maria Rosaria Guarini, Francesco Tajani, Felicia Di Liddo, Debora Anelli. Incidence of Different Types of Urban Green Spaces on Property Prices. A Case Study in the Flaminio District of Rome (Italy). Transactions on Petri Nets and Other Models of Concurrency XV. 2019; ():23-34.
Chicago/Turabian StylePierluigi Morano; Maria Rosaria Guarini; Francesco Tajani; Felicia Di Liddo; Debora Anelli. 2019. "Incidence of Different Types of Urban Green Spaces on Property Prices. A Case Study in the Flaminio District of Rome (Italy)." Transactions on Petri Nets and Other Models of Concurrency XV , no. : 23-34.